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Following a massive $ 1.5 billion investment in Bitcoin by Elon Musk, CEO of Tesla, the price of this virtual currency recently surged above $50,000. This is a good time to introduce Donaldson Sackey, a Togolese international footballer, entrepreneur, stylist, and architect. Sackey, in his 30s, recently launched his cryptocurrency.
Why launch his cryptocurrency? What challenges...
Togo shows budget surplus results for fiscal years 2018 and 2019. This means its income exceeds its expenditures for those fiscal years.
Last Wednesday, at the Council of Ministers’ weekly meeting, the Togolese government confided that the good budget performances were attributable to regulations drafts (which assess, at each end of the fiscal year, the final amount of State expenditure and...
The latest bond issue of Togo on the WAEMU securities market was oversubscribed with investors raising CFA112.69 billion.
This was reported last Friday by the Umoa-Titres agency which arranged the operation. The latter, let’s recall, aimed at supporting Togo’s economy in its efforts to recover post-Covid.
The coverage rate for the issue was 563.48%. This is an astonishing...
The Caisse Regionale de Refinancement Hypothecaire (CRRH-UEMOA), based in Lome, becomes the third best-rated financial institution by Moody's in the West Africa Economic and Monetary Union (WAEMU). The other institutions are the West African Development Bank ( BOAD) and the African Development Bank (AfDB).
Indeed, Moody's Investors Service ("Moody's") assigned the following first-time ratings to...
The Togolese government has set up three new marine weather stations on three different sites (the Lome’s Port, Kpeme, and the customs office of Kodjoviakope). The facilities were inaugurated last week.
In addition to these three stations, there are two current meters (to measure the speed of water flow). This equipment, whose acquisition was made possible thanks to the support from the United...
Togo wants to better assess and certify its areas of mining potential. It announces, with the support of the World Bank, an airborne geophysical campaign that will also make it possible to provide the country with geoscientific data. In this regard, Mila Aziable, Minister Delegate for Energy and Mines, declared: “At the end of this campaign, Togo will be more attractive on the market.”
This...
In Togo, users of public administration services will soon be able to make digital payments. A draft decree in this direction was examined on February 17th during the Council of Ministers.
The projected bill, which is part of the law on the promotion of banking and the use of cashless means of payment, aims to “promote the use of e-payment within the Administration, banking, financial...
Gilbert Fossoun Houngbo, a senior official and former Prime Minister of Togo, was reappointed on February 17th as the head of the International Fund for Agricultural Development (IFAD), which he had headed since 2017.
IFAD’s board of governors, the Fund's main decision-making body, has renewed its trust in him, for a second four-year term.
Not long after he was reappointed, the...
In Togo, the Government plans to map the existing socio-economic infrastructure. The project, still in its pilot phase, was presented by the Minister delegate for territorial development, last Wednesday during the Council of Ministers.
Under the pilot phase, 10 cantons are covered. However, once it expands across the rest of the country, the mapping project, to which mayors and local elected...
From 200,000 t initially projected in 2022, Togo revised its forecast for cotton output to 225,000 t by 2025.
This is a commitment farmers made to the State and Olam which is the new majority shareholder of the Nouvelle Société Cotonnière du Togo (NSCT). The information was disclosed by Koffi Etoh, coordinator of the National Federation of the Cotton Farmers' Association...
Announced some months ago, the Computer Emergency Response Team (CERT.tg) is officially operational. This was disclosed by Cina Lawson, Togo’s Minister of the digital economy and digital transformation.
The entity was set up by the Government and European cybersecurity expert Asseco Group. Its main mission is to “identify, assess, and tackle any cyberattack against the Togolese State,...
During his recent visit in Russia, Togo’s Minister of foreign affairs, Robert Dussey, said relations between the two countries are going well. This was while showcasing Togolese business opportunities to actors of the Russian private sector.
For his part, Dussey’s Russian counterpart, Sergueï Lavrov, said Russia shows“great interest in actively developing bilateral relations in all...
Togo issued its first recovery bonds (ODR) with a maturity period of 5 years. The securities, fungible treasury bonds, have a nominal value of CFA10,000 and an interest rate of 6.1% per year.
With this operation, Lomé hopes to raise CFA20 billion. According to the UMOA-titres agency, the seccuities are subsidized by the BCEAO. They are eligible for refinancing with this central...
Besides Aztraszenca’s vaccine approved by the WHO, Togo is looking to adopt Russia's Sputnik V vaccine.
“The Covid-19 pandemic is so severe that we believe that any vaccine that has a chance of saving humanity and protect our people is good to try”, Robert Dussey, Togo's minister of foreign affairs, told Sputnik. “It is therefore obvious that during our stay in Russia, we will...
The Nigerian startup, Daystar Power plans to raise $100 million in the next three years, to finance its expansion in Togo and West Africa. The funds which is a debt will be raised through five rounds of $20 million each.
In Togo, the hybrid solar power startup competes against others like Bboxx already active on the Cizo rural power project, Kya energy group.
Daystar, to win new...
Togocom will deploy 5G at the Adétikopé industrial platform (PIA). The two parties signed to this end, a partnership convention on February 16th, 2021.
Togocom also plans to install fiber optics in the whole area.
“This is a major project for the country. We quickly reached out to PIA to make available the latest telecom equipment. Through this partnership, we will deploy fiber...